Toshiba Reshuffles Top Management
www.toshiba.com
Along with many other companies shuffling top management, next comes Toshiba, who will be lead by a new head that will be responsible for returning the technology giant to profitability, as the company is faced with what could be their largest lost in 60 years. Yesterday, Atsutoshi Nishida, the President of Toshiba, said that he will step down from his position in June, following a run of 4 years.
Norio Sasaki, the head of the power business of Toshiba, will now become the new President of the company. Sasaki was the one behind the $5.4 billion acquisition of the nuclear power plant business of Westinghouse for the company. He will now be responsible for showing the same willingness to take risks, while he attempts to help overhaul Toshiba after their largest anticipated yearly loss ever.
Nishida is to become the Chairman of the company and offered the role of President to Sasaki two weeks ago. Sasaki said that he was hesitant for a moment, as there is much pressure involved in taking over the company during such a tough period in the economy.
Sasaki can’t be blamed for his hesitation, as he inherits the task of returning the company, who is the maker of everything from mobile phones, refrigerators, and memory chips to medical CT scan machines, elevators, and nuclear reactor, back to profitability. At the beginning of the year, Toshiba announced plans for cutting costs by 15%, to move chip production to other countries where the cost of labor is lower, and to lay off 4,500 temporary staff in Japan.
Find out more at: www.toshiba.com
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